Fuel Cell Vehicle-to-Grid (V2G) Global Market Report 2025

The fuel cell vehicle-to-grid (V2G) market size has grown exponentially in recent years. It will grow from $0.94 billion in 2024 to $1.21 billion in 2025 at a compound annual growth rate (CAGR) of 28.6%. The growth in the historic period can be attributed to the increasing demand for clean energy, rising focus on zero-emission transportation, growing government support for hydrogen infrastructure, rising investments in fuel cell technology, and the expansion of pilot vehicle-to-grid (V2G) projects utilizing fuel cell vehicles.

The fuel cell vehicle-to-grid (V2G) market size is expected to see exponential growth in the next few years. It will grow to $3.26 billion in 2029 at a compound annual growth rate (CAGR) of 28.2%. The growth in the forecast period can be attributed to the expansion of hydrogen refueling networks, increasing adoption of fuel cell electric vehicles, government incentives promoting green mobility, and the rising need for energy decentralization. Major trends in the forecast period include advancements in bidirectional charging systems, innovation in hydrogen storage solutions, development of fuel cell-powered heavy-duty vehicles, advancements in vehicle-to-grid communication protocols, and the emergence of mobile fuel cell power units.

The increasing deployment of smart grids is expected to drive the growth of the fuel cell vehicle-to-grid (V2G) market in the coming years. A smart grid is a modernized electricity network that uses digital technologies to manage and deliver power more efficiently and reliably. The expansion of smart grids is driven by the growing demand for dependable electricity, as they help prevent outages and maintain a consistent energy supply for homes and businesses. Fuel cell vehicle-to-grid systems complement smart grids by enabling bidirectional energy flow between vehicles and the power network, improving grid stability and reliability. They optimize the use of renewable energy and provide flexible energy management, enhancing the efficiency and resilience of the power system. For instance, in July 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global electricity grid investments are increasing, with Europe allocating EUR 584 billion by 2030 (including EUR 170 billion for digitalization), China investing USD 442 billion (2021-2025), Japan allocating USD 155 billion (2022), and the United States providing USD 10.5 billion (2022) for grid modernization. Therefore, the increasing deployment of smart grids is fueling the growth of the fuel cell vehicle-to-grid market.

Key companies operating in the fuel cell vehicle-to-grid market are focusing on developing innovative products such as bidirectional charging systems to strengthen grid resilience, enhance consumer energy independence, and improve the utilization of renewable energy. Bidirectional charging systems refer to advanced technologies that allow electricity to flow both to and from an electric vehicle’s battery, enabling the vehicle to power a home or supply electricity back to the grid. For instance, in July 2025, Star Charge, a China-based provider of electric vehicle charging solutions, introduced the Halo bidirectional DC charger in Australia. The Halo is a 22 kW AC and 22 kW DC wall-mounted charger equipped with vehicle-to-everything (V2X) technology, supporting applications such as home backup power and grid services. It includes automatic switching between charging and discharging modes, enabling seamless energy management and improving energy security for both residential and commercial users.

In April 2025, Nuvve Holding Corporation, a United States-based green energy technology company, acquired Fermata Energy LLC for an undisclosed amount. Through this acquisition, Nuvve aims to enhance its position in the vehicle-to-grid market by integrating Fermata Energy’s bidirectional charging technology and expanding its customer base. This acquisition supports the acceleration of intelligent energy solutions and the expansion of grid services for commercial and residential applications. Fermata Energy LLC is a United States-based renewable energy technology company specializing in fuel cell vehicle-to-grid systems.

Major players in the fuel cell vehicle-to-grid (v2g) market are Toyota Motor Corporation, TotalEnergies SE, Ford Motor Company, BMW Group, Honda Motor Co. Ltd., Mitsubishi Corporation, Hyundai Motor Company, Nissan Motor Corporation, Kia Corporation, Panasonic Corporation, Renault Group, Contemporary Amperex Technology Co. Limited, Toshiba Corporation, GS Yuasa International Ltd., Doosan Fuel Cell Co. Ltd., SFC Energy AG, Ballard Power Systems Inc., Nuvera Fuel Cells LLC, AFC Energy plc, and Automotive Energy Supply Corporation.

North America was the largest region in the fuel cell vehicle-to-grid (V2G) market in 2024. The regions covered in fuel cell vehicle-to-grid (V2G) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the transport sector, particularly in fleet maintenance and logistics operations. Higher duties on imported commercial vehicles, tires, and engine components have increased operational costs for trucking and freight companies, forcing them to raise shipping rates or reduce margins. Airlines and maritime shippers face similar pressures, with tariffs on aircraft parts and shipbuilding materials driving up capital expenditures. Additionally, retaliatory tariffs in key export markets have reduced demand for U.S.-made transportation equipment, further straining revenue streams. The sector must now prioritize fuel efficiency, alternative sourcing, and automation to offset rising expenses while maintaining service reliability.

The fuel cell vehicle-to-grid (V2G) market research report is one of a series of new reports that provides fuel cell vehicle-to-grid (V2G) market statistics, including fuel cell vehicle-to-grid (V2G) industry global market size, regional shares, competitors with a fuel cell vehicle-to-grid (V2G) market share, detailed fuel cell vehicle-to-grid (V2G) market segments, market trends and opportunities, and any further data you may need to thrive in the fuel cell vehicle-to-grid (V2G) industry. This fuel cell vehicle-to-grid (V2G) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A fuel cell vehicle-to-grid (V2G) is an advanced energy interaction system in which hydrogen-powered fuel cell vehicles not only consume electricity from the grid for auxiliary functions but also store and return excess electrical energy to the grid through bidirectional power flow. This process supports energy balance, enhances grid stability, and promotes efficient resource utilization. It plays a key role in integrating renewable energy, optimizing electricity demand management, and advancing smart grid infrastructures.

The key vehicle types of fuel cell vehicle-to-grid (V2G) include passenger vehicles, commercial vehicles, buses, and others. Passenger vehicles are hydrogen-powered cars capable of both drawing electricity from and supplying energy back to the grid or household systems. The technologies used include proton exchange membrane fuel cells, phosphoric acid fuel cells, solid oxide fuel cells, and others, with power ratings below 100 kW, between 100 kW and 200 kW, and above 200 kW. These systems are applied in peak power supply, emergency power, frequency regulation, and other applications, serving end users such as residential, commercial, industrial, and utility sectors.

The countries covered in the fuel cell vehicle-to-grid (V2G) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The fuel cell vehicle-to-grid (V2G) market consists of revenues earned by entities by providing services such as electricity supply back to the grid, energy storage management, grid balancing, demand response, and ancillary services. The market value includes the value of related goods sold by the service provider or included within the service offering. The fuel cell vehicle-to-grid (V2G) system market also includes sales of fuel cell electric vehicles (FCEVs), bidirectional chargers, power conversion systems, energy management software, and related hardware components. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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